Planet 13 agrees to be acquired by Vireo Growth in all-stock deal - PLNH News | RalliesPlanet 13 agrees to be acquired by Vireo Growth in all-stock deal
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PLNH• Treatment of options and termination fee terms
- Underwater options will be canceled for no consideration; remaining options convert into Vireo options, subject to the exchange ratio.
- Planet 13 may owe a USD 1.8 million termination fee in specified scenarios, including a competing deal within nine months of termination.
Vireo Growth to acquire Planet 13 in stock-for-stock merger
- Vireo Growth agreed to acquire Planet 13 in a stock-for-stock deal via a merger, leaving Planet 13 as a wholly owned Vireo subsidiary.
- Planet 13 shareholders will receive 0.015383618 Vireo subordinate voting shares per Planet 13 share at closing.
- RSU awards will vest immediately before closing, with underlying shares issued then converted into the same stock consideration.
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